Workmates Core2Cloud Solution is a cloud-native technology services company that does one thing - it moves businesses onto Amazon Web Services and then runs, secures and improves those cloud environments for them, month after month. Founded in 2018 in Kolkata and bootstrapped from the start, the company went from zero to a public listing on the BSE SME exchange without ever touching the legacy IT outsourcing or body-shopping work that its larger rivals are still pivoting away from. The recurring pattern is simple: every transformation project - a migration, a modernisation, an AI build - is designed to convert into a multi-year annuity contract, so each new client stacks on top of the last and the revenue base compounds. # Business segments A single engine with six service lines that feed one annuity model - migration and modernisation projects bring clients in, and managed cloud operations, security, data and AI services keep them paying every month. ## 1. Cloud foundation and managed operations: the annuity engine that everything else feeds **Clients pay every month to run, secure and optimise their AWS environments under multi-year contracts that renew annually, creating a self-compounding revenue base with more than four-fifths of total income already recurring.** - **Migration is the on-ramp** - the company moves a customer's existing applications, or builds new ones, onto AWS infrastructure, and that one-time project work (INR 25 crores in FY26) then converts into an ongoing managed-services relationship where the client pays monthly. - **Machines do the heavy lifting** - an in-house AI tool called IntelliOps automates customer infrastructure tickets and fixes, which pushed billable utilisation from 72% to 84%, cut escalation rates nearly in half, and shrank average resolution time from 4.5 hours to 1.2 hours, so the same team can handle more clients. - **No hardware, no problem** - the company does not own GPU servers; it uses AWS-provided infrastructure and passes any cost increases straight through to clients inside the annuity contract, keeping the business asset-light. ## 2. Application and database modernisation: the feeder that creates new annuity clients **One-time projects to rebuild legacy applications as cloud-native systems on AWS convert directly into managed-services contracts once the new environment goes live.** - **Transformation that pays twice** - a client pays Workmates to architect and build a modernised cloud environment, and once that environment is operational, the engagement flips into the recurring managed-operations engine, so every modernisation win is also a future annuity win. - **High-touch, not high-volume** - the company runs these transformations as services-led engagements with close customer hand-holding, which is how it won modernisation deals with two large media houses (one traditional broadcaster and one OTT player), a global automotive software firm, and a regulated fintech payments company in FY26. ## 3. Secure Cloud platform: cybersecurity layered on top of the cloud estate **Security services are sold both during transformation and as an ongoing managed service, deepening each client relationship and increasing the recurring revenue the company earns from the same cloud environment.** - **Security as a cross-sell** - once a client's cloud is running under an annuity contract, Workmates layers on cybersecurity services, which means the same customer generates more monthly revenue without the company having to win a new logo. - **Built on credentials that matter** - the company holds ISO 27001 certification for information security management and invested during FY26 in expanding its Security Operations Centre and building a consulting-led security sales team. ## 4. Data platform and managed data services: the analytics layer on AWS **Managed data services are delivered under the same multi-year annuity contracts as cloud operations, giving existing clients another reason to stay and spend more.** - **Data rides on the annuity model** - data platform engineering and ongoing data management are bundled into the multi-year contracts that renew annually, so data work contributes to the recurring revenue stream rather than being sold as standalone projects. - **Skills built for global demand** - the company has invested in data and AI capabilities, noting that these skills command higher value in markets outside India, which positions it for cross-border work even as domestic clients adopt data services more slowly. ## 5. AI acceleration and managed AI: the newest layer, small today but pulling cloud work behind it **AI services generated only about INR 2 crores directly in FY26, but every AI project needs cloud infrastructure underneath, so AI conversations pull through much larger cloud and managed-services deals.** - **AI opens the door, cloud closes it** - when a customer wants to implement AI, the company leads with AI in competitive pitches, but the real prize is the cloud infrastructure work that every AI initiative requires, and Workmates captures that as the AWS partner. - **Accelerators, not products** - the company builds reusable AI templates on AWS using large language models and plugs them into customer systems like SAP and Zoho, but it does not maintain a product lifecycle for these tools; they are project accelerators that speed up delivery. - **IntelliOps is the flagship** - an AI-for-IT platform launched in late 2025 that automates infrastructure support has already been adopted by more than 60% of customers, and the company plans to list it on the AWS marketplace. # Group structure and partners **A single operating company in India with one small overseas subsidiary, built entirely on an exclusive AWS partnership that fewer than 1% of global partners achieve.** - Workmates Core2Cloud Solution Limited is a standalone Indian entity with no subsidiaries, joint ventures or separate business lines in its domestic operations. - It has a wholly owned subsidiary in Singapore, incorporated in August 2024, though global expansion into the UK and US is on hold and the Singapore strategy is being re-evaluated; a US office is planned only for billing operations. - The company is partnered with Amazon Web Services and holds AWS premier-tier services partner status, a designation held by fewer than 1% of AWS partners globally, and was named AWS Consulting Partner of the Year 2025. - It operates from nine offices across India and Singapore, including three delivery centres, and employs over 170 people, of whom more than 120 hold AWS certifications.